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Getting approved for a home loan...Sneaky style

Posted by on Dec. 10, 2012 at 9:36 PM
  • 14 Replies
Dh is getting a job in fl, we live in another state and he has had the same job for years with no employment gaps. Credit is in the high 700s. Should we apply and close on a house before we move or apply once we are there and risk not getting approved because his new job (working there for under a year may make us unapproved). Is it unethical for us to buy one then move and change his job? We will be able to afford it just fine.
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by on Dec. 10, 2012 at 9:36 PM
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Replies (1-10):
potgieter
by on Dec. 10, 2012 at 9:44 PM
2 moms liked this

Id get preapproved now - let your lender know about the upcoming job though - they may want a letter or confirmation of job offer etc. 

you can get preapproved now and close after you move.... 

joeynwillsmom
by Silver Member on Dec. 10, 2012 at 9:46 PM
When your new home is in another state, they notice and ask about the new job. However, if its in the same basic line of work, it doesn't always count as "New" and may just add to time already spent in that line of work.
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Teacher101
by on Dec. 10, 2012 at 9:46 PM

I moved with nothing more than a contract... not even a first paycheck. 

Talk to your lender and ask them what you should do.

quickbooksworm
by Silver Member on Dec. 10, 2012 at 9:48 PM
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That's not sneaky - that's very common. How else to people finance homes during a long distance move?
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ERMAGERRD
by on Dec. 10, 2012 at 9:49 PM
I'm just worried it would affect the loan ammt
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angevil53
by Silver Member on Dec. 10, 2012 at 9:51 PM
Most lenders will be fine as long as he doesn't job jump a lot.
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belowzero
by Bronze Member on Dec. 10, 2012 at 9:53 PM
If it's in the same career field it shouldn't be an issue. They may want his first couple of pay stubs when he gets there. If one bank won't work with you go to the next.
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CampClan
by Bronze Member on Dec. 10, 2012 at 10:06 PM
Exactly- I worked in property management for 3 years & we would consider the fact that the applicant was in the same line of work.

Quoting joeynwillsmom:

When your new home is in another state, they notice and ask about the new job. However, if its in the same basic line of work, it doesn't always count as "New" and may just add to time already spent in that line of work.
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WinterRosesmom
by on Dec. 10, 2012 at 10:08 PM
When we moved we did exactly that! It worked out great! No problems over here
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kansasmom1978
by Katie on Dec. 10, 2012 at 10:18 PM

I'd apply for the loan and buy the home before he switches jobs. 

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